At the start of the 2026 Lunar New Year, Hengli Heavy Industries has secured three shipbuilding contracts, continuing its strong momentum in the new shipbuilding market.
On February 25, *ST Songfa, the listed entity of Hengli Heavy Industries, issued an announcement stating that the construction contract for two Very Large Ammonia Carriers (VLACs) of its subsidiary Hengli Shipbuilding (Dalian) Co., Ltd. was recently signed and came into effect, with a total contract value of approximately US$200-300 million.
According to the announcement, the VLAC contract undertaken by Hengli Heavy Industries this time is of the mainstream 93,000 cubic meter specification, with a single vessel cost of US$100-150 million, and the counterparty is an internationally renowned shipowner.
It is understood that this is the first time Hengli Heavy Industries has undertaken a VLAC order from an international shipowner.
In 2024, Hengli Group ordered four VLACs from its own shipyard. At the time, reports indicated that the new vessels would primarily be used for transportation in the petrochemical and textile industries, “but might also be sold if the price is right.” It is currently unknown whether the two latest VLACs are resale vessels.
It is worth noting that these two VLACs are the third new shipbuilding contract announced by Hengli Heavy Industries after the Lunar New Year. On February 24, Hengli Heavy Industries announced the entry into force of a contract to build two Capesize bulk carriers. On February 25, Hengli Heavy Industries again announced the entry into force of a contract to build three VLCCs.
Including the latest orders, Hengli Heavy Industries has secured a total of 69+4 new vessel orders so far in 2026, including 7+2 bulk carriers, 38 VLCCs, 14 tankers, 8+2 container ships, and 2 VLACs. Particularly in the tanker market, Hengli Heavy Industries has secured 38 of the 45 VLCCs ordered globally this year, demonstrating an overwhelming advantage.